NZD/USD pauses sell-off ahead 0.7240

The NZD/USD pair is currently seen making minor-recovery attempts as we progress towards early Asia, having paused the extensive sell-off witnessed almost  through the Asian session.

NZD/USD regains 0.7250

Currently, the NZD/USD pair now drops -0.49% to 0.7256, recovering from session lows struck at 0.7243 last hour. The Kiwi is seen reversing a part of today’s heavy losses, after the pair corrected sharply, snapping yesterday’s rebound.

The bounce seen in the NZD/USD pair can be largely attributed to the turn-around in the risk conditions, with the Asian equities having regained poise over the last hour. Moreover, upbeat NZ credit card spending data also aided the recovery in the kiwi pair.

Attention now turns towards the US durable goods and prelim GDP data due next week amid a data-empty trading session today, while the NZ trade balance report will be also closely eyed going forward.

NZD/USD Levels to consider

To the upside, the next resistance is located at 0.7280 (daily high), above which it could extend gains to 0.7329 (Aug 17 high). To the downside immediate support might be located at 0.7226 (10-DMA) and from there to at 0.7194 (20-DMA).